26.02.2024 18:00

Do you have what it takes to attract and retain talent in 2024?

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Unfortunately, you're running a business when organisations struggle to attract talent. But you don't have to deal with the same obstacles; you can adapt to the latest dynamics of attracting and retaining talent and achieve your goals. 

The global labour market was fairly tight in 2023 and made it quite challenging for companies to attract talent. Additionally, employers are facing a skills shortage when recruiting new talent as candidates have higher expectations regarding factors like benefits, pay, hybrid working, and personal and professional development. 

The good news is that organisations can secure more successful outcomes if they learn how to engage with talent in 2024. This article provides some useful information about the ways in which they can attract talent's attention.

Disclose the salary in your job advertisement

Many organisations prefer to keep the salary confidential and disclose it only when they make a candidate a job offer. However, the labour market has changed over the last few years, and talent appreciates more when companies are transparent during recruitment. It saves both the employer and candidate time because they can determine if their needs align. 

Surveys show that an increasing number of organisations have started to disclose salary details in their job adverts. Companies from different sectors have embraced this trend in different ways because there are great discrepancies between roles in the same company or from one company to another in the same industry. 

The employers who chose to disclose salary information in their job advertisements have registered benefits like:

  • Attracting the right fit for their company
  • Managing expectations
  • Saving resources
  • An increased number of applicants

Evaluate the recruitment process and address existing issues

If the recruitment journey didn't go as planned, maybe it's time to review it to find out what prevents the right candidates from applying. HR's main responsibility is attracting, screening, shortlisting, and selecting the ideal candidates for your positions. However, when the HR department follows the same steps without considering if they still meet the present market needs, the process might not be as effective as expected. 

Unfortunately, less than 30% of companies measure the results and satisfaction of their recruitment process. And part of those reviewing their process only measure their success by getting feedback from successful candidates. Therefore, the conclusions tend to be subjective, and the information gathered is irrelevant. 

It would be best if you also reached unsuccessful candidates to find what didn't work out for them and compare their feedback with the one you get from successful candidates. 

Promote your well-being strategy

Well-being and health at the workplace have risen to the top in people's points of interest when searching for a job. People nowadays emphasise working for a company that understands how important their well-being and safety at work are. It would help if you showed your prospective employees that their well-being is a key priority for your company and you make efforts to prevent workplace personal injuries

Use your website and social media channels to share the results of your well-being plans. Document your efforts and upload the data on your web page to allow candidates to track relevant information for them. 

Having a well-defined well-being strategy isn't enough; you need to be transparent about it so both present and future talent are aware of it. 

Prioritise culture during the recruitment process and afterwards

Your business is defined by the culture you promote more than your sector, company size, or mission. Your culture is the environment that nurtures your employees daily, and has the power to influence their performance and well-being. When you recruit someone who struggles to align with your culture, they won't perform as expected, could cause discord in the team, and chances are they will also resign. 

Therefore, it's crucial to prioritise hiring a cultural fit because their experience and skills alone don't make them the ideal candidate. Keep your culture in mind during all stages of the recruitment process, and it'll influence all aspects, from the way you craft the job advert to candidates' interviews and onboarding. Be transparent when you communicate your candidates the type of employee you're looking for and encourage them to be honest about their expectations. 

Recognise your employees' abilities and make them feel valued

People nowadays want to work for an employer that values their performance and what they bring to the workplace daily. Only because you offer a good salary, you won't be able to retain dissatisfied employees, especially when you promote a chronic lack of appreciation for their work. Instead of allowing this lack of interest in your employees' well-being to tarnish your brand, show them your appreciation and make it crystal clear that you value their support for your business. 

Making your employees feel valued goes beyond discussing with them regularly and saying words of thanks. There needs to be more than just sending out gift cards annually because people nowadays want more from their employers. You should have a program in place to incentivise your team by providing social recognition and tangible rewards periodically. An employee recognition program will also attract new talent because it promotes the idea that they are joining a workplace with a healthy culture. 

Creating a platform for showing recognition will make it easy for everyone in your company to show forms of appreciation, regardless of their position. 

Foster the idea of inclusion

Everyone wants to feel included at their workplace; they want to be part of the team and collaborate with people who share their values. Your organisation should make your employees feel psychologically safe from the first moment they join your company so they become reluctant to leave. 

Encourage your employees to share their thoughts and get in touch with those who left your company to find out the reasons behind their decision. The main five pillars of an employee feeling included are connection, support, inclusion, recognition, and being welcomed. 

Final words

This new year brings new dynamics in the sector of attracting talent. The trends continue to shift, and it's crucial to meet the market demands so you can avoid issues and attract and retain the best talent.